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Robert Arnott points out, "practitioners 'know' that the greatest
peril is the risk of being wrong and alone. As such, we fall prey to
the Keynesian dictum that it is more acceptable to fail conventionally
than to succeed unconventionally. Decisions that leave an investor
alone carry the inherent risk of being both wrong and alone. If an
investor is wrong and alone, a strong likelihood is that the assets'
owner will not have the patience to see the investment decision
through. The decision, even if correct in the long run, will be
reversed before it can succeed." We are all familiar with the
expression "misery loves company." Experiencing relatively low (but
still positive) investment results may create more psychological risks
to the investment plan being abandoned than experiencing losses if
everyone around is having a similar experience.
rgds, Pal
--- In amibroker@xxxxxxxxxxxxxxx, "Herman van den Bergen"
<psytek@xxxx> wrote:
> Expand? I used to say that engineers would make the best traders as
long as
> they don't think like traders. Reason? Engineering is based on
unemotional
> concepts; all factors are well defined. Engineers are more likely to
deal
> with facts and simply work the numbers, they are less likely to
listen to
> financial news, market analysts, read about questionable fundamentals.
> Unconventional things? Anything you don't find in popular investment
books
> ;-)
>
> herman
> -----Original Message-----
> From: Christoper [mailto:turkey@x...]
> Sent: Friday, November 05, 2004 11:21 AM
> To: amibroker@xxxxxxxxxxxxxxx
> Subject: [amibroker] Re: Amazing backtest ==> Automatic/program
trading
>
>
>
> > To succeed you have to
> > think outside the box, try unconventional things; i would almost say
> that to
> > succeed you should not think like a trader ;-)
>
> Please expand. :)
>
>
>
>
>
>
> Check AmiBroker web page at:
> http://www.amibroker.com/
>
> Check group FAQ at:
> http://groups.yahoo.com/group/amibroker/files/groupfaq.html
>
>
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